PNGS Reva's Gleaming IPO: Shining Bright with Investor Appeal

PNGS Reva Diamond Jewellery's IPO received 59% subscription on its first day. The company raised Rs 171 crore from anchor investors and plans to use the IPO proceeds to open 15 new stores by 2028. The IPO aims to boost brand visibility and expand its retail footprint.

The IPO of PNGS Reva Diamond Jewellery attracted robust interest, achieving 59% subscription on its debut day, according to NSE data. With a total of Rs 380 crore on offer, bids poured in for 33,83,488 shares.

The Pune-based company disclosed on Monday that it secured Rs 171 crore from anchor investors. The IPO is a fresh issuance of equity shares, with the proceeds earmarked for establishing 15 new retail stores by 2028, alongside marketing and corporate initiatives.

CEO Amit Modak emphasized the focus on business expansion, revealing plans for a Rs 287-crore investment in retail development. The brand, born from P N Gadgil & Sons Ltd's sale, has demonstrated significant growth, reporting a 32% revenue increase in fiscal year 2025.

(With inputs from agencies.)